Last Updated September 22, 2020
Over $60 Billion in Unclaimed Assets are Available in the United States!
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Unclaimed Money is money that belongs to people. It is uncollected property, also known as missing money that is waiting to be collected.
Today, states, federal agencies and other organizations are collectively holding as much as $60 billion in unclaimed cash and benefits. That is just about $180 for every United State resident. In some cases people are owed some serious amount of money.
In 2017 a Connecticut resident claimed $32.8 million, proceeds of a sale of 1.3 million shares of stocks. The receipt of the funds requested not to be revealed, therefore, no further details were provided. There is a staggering number of more then $300 million in pension benefits that is currently owed to about 38,000 people according to the Pension Benefit Guaranty Corp. Unclaimed benefits currently range from 12 cents to a whopping $704,621, with an average benefit of $9,100. These benefits go unclaimed simply because employees are unaware they had accrued retirement benefits at a previous employer.
Under varying state laws, financial institutions and other companies are required to turn over any funds considered "abandoned," including un-cashed paychecks, forgotten bank account balances, unclaimed refunds, insurance payouts and contents of safe deposit boxes. They have found some pretty unusual items like diamonds, bottles of liquor and sardines.
Property is usually considered abandoned after the holder of the account or property has had no activity or contact with the owner for several years.